Weekly Update (1/23/26 - 1/29/26)
Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 1/23/26 to 1/29/26. More information can be found on our monitoring dashboard.
Base
| Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|---|---|
| WETH | 64.00K | 96.00K | 8.44% | 6.86% | 82.03% |
| USDS | 690.00K | 750.00K | 1.06% | 1.31% | 74.53% |
| EURC | 21.00M | 21.90M | 5.60% | 7.33% | 73.62% |
| USDC | 184.00M | 200.00M | 13.90% | 18.38% | 69.57% |
| DAI | 300.00K | 400.00K | 4.08% | 5.70% | 53.61% |
| cbXRP | 1.60M | 5.00M | 99.49% | 62.82% | 50.70% |
| VIRTUAL | 10.00K | 4.50M | 19.90K% | 88.72% | 49.85% |
| AERO | 25.00M | 70.00M | 22.05% | 28.46% | 27.66% |
| cbETH | 1.00K | 16.00K | 29.60% | 9.08% | 20.28% |
| MAMO | 3.00M | 20.00M | 17.48% | 13.59% | 19.69% |
| cbBTC | 640.00 | 1.50K | 6.65% | 20.41% | 13.90% |
| weETH | 200.00 | 5.40K | 6.06% | 1.62% | 13.83% |
| tBTC | 5.00 | 50.00 | 10.86% | 8.87% | 12.23% |
| LBTC | 10.00 | 95.00 | 38.92% | 34.94% | 11.73% |
| WELL | 34.00M | 250.00M | 66.74% | 81.61% | 11.12% |
| wstETH | 1.20K | 14.40K | 12.29% | 26.83% | 3.82% |
| MORPHO | 100.00K | 6.00M | 219.64% | 96.24% | 3.80% |
| rETH | 200.00 | 2.60K | 10.45% | 31.15% | 2.58% |
| wrsETH | 0.00 | 1.00 | 0.00% | 5.54K% | 0.03% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| WETH | -6% from 5.74K WETH to 5.40K WETH | -7% from 6.93K WETH to 6.48K WETH | +1% from 82.74% to 83.36% |
| USDS | +4% from 7.19K USDS to 7.45K USDS | -5% from 10.27K USDS to 9.76K USDS | +9% from 70.02% to 76.34% |
| EURC | -1% from 1.17M EURC to 1.16M EURC | +11% from 1.55M EURC to 1.73M EURC | -11% from 75.80% to 67.45% |
| USDC | +1% from 25.54M USDC to 25.73M USDC | -3% from 37.13M USDC to 36.14M USDC | +3% from 68.79% to 71.20% |
| DAI | +1% from 12.17K DAI to 12.33K DAI | +0% from 22.80K DAI to 22.81K DAI | +1% from 53.37% to 54.05% |
| cbXRP | -1% from 1.60M cbXRP to 1.59M cbXRP | -4% from 3.24M cbXRP to 3.10M cbXRP | +4% from 49.45% to 51.23% |
| VIRTUAL | +0% from 1.99M VIRTUAL to 1.99M VIRTUAL | -0% from 4.04M VIRTUAL to 4.03M VIRTUAL | +1% from 49.20% to 49.50% |
| AERO | -4% from 5.75M AERO to 5.52M AERO | -1% from 20.03M AERO to 19.85M AERO | -3% from 28.69% to 27.82% |
| cbETH | +44% from 236.64 cbETH to 339.72 cbETH | +17% from 1.37K cbETH to 1.60K cbETH | +23% from 17.25% to 21.21% |
| MAMO | +24% from 472.54K MAMO to 585.96K MAMO | -15% from 2.88M MAMO to 2.44M MAMO | +46% from 16.40% to 23.98% |
| cbBTC | -7% from 45.74 cbBTC to 42.37 cbBTC | -8% from 323.37 cbBTC to 298.42 cbBTC | +0% from 14.14% to 14.20% |
| weETH | +0% from 11.94 weETH to 11.95 weETH | +2% from 87.11 weETH to 88.61 weETH | -2% from 13.71% to 13.48% |
| tBTC | -21% from 0.62 tBTC to 0.49 tBTC | -3% from 4.52 tBTC to 4.37 tBTC | -18% from 13.77% to 11.30% |
| LBTC | -11% from 4.29 LBTC to 3.83 LBTC | -1% from 33.52 LBTC to 33.19 LBTC | -10% from 12.80% to 11.54% |
| WELL | +9% from 22.00M WELL to 23.88M WELL | +2% from 201.56M WELL to 205.47M WELL | +6% from 10.92% to 11.62% |
| wstETH | -0% from 147.88 wstETH to 147.17 wstETH | +1% from 3.84K wstETH to 3.88K wstETH | -2% from 3.85% to 3.79% |
| MORPHO | +0% from 219.63K MORPHO to 219.66K MORPHO | -0% from 5.78M MORPHO to 5.77M MORPHO | +0% from 3.80% to 3.80% |
| rETH | +0% from 20.90 rETH to 20.91 rETH | +0% from 810.17 rETH to 810.67 rETH | -0% from 2.58% to 2.58% |
| wrsETH | -1% from 0.01 wrsETH to 0.01 wrsETH | -1% from 55.48 wrsETH to 55.19 wrsETH | -1% from 0.03% to 0.03% |
Notable Trends
- cbBTC supply -8% (323.37 → 298.42 cbBTC)
- WETH supply -7% (6.93K → 6.48K WETH)
- cbETH supply +17% (1370 → 1600 cbETH)
- cbETH borrows +44% (236.64 → 339.72 cbETH)
Liquidations
- Total liquidations: 53
- Total Collateral Seized (USD): $42,643.13
- Total Debt Repaid (USD): $38,766.48
- Total Liquidation Bonus (USD): $3,876.65
- Total Liquidator Bonus (USD): $2,713.65
- Total Protocol Bonus (USD): $1,162.99
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| AERO | 29,761.713998 | $13,340.78 | $12,127.98 | $1,212.80 | $848.96 | $363.84 | 10 |
| cbXRP | 5,076.866000 | $9,716.18 | $8,832.89 | $883.29 | $618.30 | $264.99 | 2 |
| cbETH | 2.352427 | $7,783.83 | $7,076.21 | $707.62 | $495.33 | $212.29 | 3 |
| cbBTC | 0.054664 | $4,794.75 | $4,358.87 | $435.89 | $305.12 | $130.77 | 4 |
| WELL | 590,794.388000 | $3,484.66 | $3,167.87 | $316.79 | $221.75 | $95.04 | 11 |
| WETH | 0.568554 | $1,659.70 | $1,508.82 | $150.88 | $105.62 | $45.26 | 15 |
| MAMO | 84,069.000000 | $1,532.05 | $1,392.77 | $139.28 | $97.49 | $41.78 | 1 |
| weETH | 0.048704 | $154.16 | $140.14 | $14.01 | $9.81 | $4.20 | 1 |
| USDC | 103.581300 | $103.55 | $94.14 | $9.41 | $6.59 | $2.82 | 3 |
| wstETH | 0.016344 | $60.75 | $55.23 | $5.52 | $3.87 | $1.66 | 1 |
| MORPHO | 5.968620 | $7.15 | $6.50 | $0.65 | $0.46 | $0.20 | 1 |
| VIRTUAL | 6.756030 | $5.57 | $5.06 | $0.51 | $0.35 | $0.15 | 1 |
Reserves & Bad Debt
| Asset | Price | Total Reserves | Total Reserves (USD) | Bad Debt | Bad Debt (USD) |
|---|---|---|---|---|---|
| AERO | 0.472 | 176327.4142 | $83,226.54 | 463504.4107 | $201,461.27 |
| cbBTC | 90387.36 | 0.4716 | $42,626.68 | 0.1471 | $12,465.37 |
| cbETH | 3389.667 | 10.7221 | $36,344.35 | 47.9143 | $151,611.36 |
| cbXRP | 1.923 | 503291.5509 | $967,829.65 | 1240031.591 | $2,229,081.21 |
| DAI | 1 | 1844.6315 | $1,844.63 | 0 | $0.00 |
| EURC | 1.195 | 23949.2662 | $28,619.37 | 156050.0281 | $186,578.59 |
| LBTC | 90639.108 | 0.2016 | $18,272.84 | 0 | $0.00 |
| MAMO | 0.02 | 6941.474 | $138.83 | 0 | $0.00 |
| MORPHO | 1.216 | 14297.6324 | $17,385.92 | 119303.3657 | $142,305.06 |
| rETH | 3495.686 | 2.9438 | $10,290.60 | 0.0005 | $1.61 |
| tBTC | 90113.228 | 0.0747 | $6,731.46 | 0.0121 | $1,019.12 |
| USDC | 1 | 115292.6941 | $115,292.69 | 80934.1629 | $81,055.76 |
| USDS | 1 | 133.8528 | $133.85 | 0 | $0.00 |
| VIRTUAL | 0.847 | 874242.2892 | $740,483.22 | 1963063.456 | $1,505,081.01 |
| weETH | 3285.678 | 6.016 | $19,766.64 | 0.0033 | $10.12 |
| WELL | 0.006 | 2540412.67 | $15,242.48 | 0 | $0.00 |
| WETH | 3023.241 | 49.6789 | $150,191.29 | 0.2256 | $635.86 |
| wrsETH | 3216.049 | 0.8118 | $2,610.79 | 0.0003 | $1.01 |
| wstETH | 3704.538 | 6.6473 | $24,625.18 | 81.8391 | $283,028.00 |
| Total: $2,281,657.01 | Total: $4,794,335.35 |
OP Mainnet
| Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|---|---|
| cbETH | 0.00 | 0.00 | 0.00% | 0.00% | 97.78% |
| DAI | 4.50M | 4.80M | 2.05% | 2.16% | 88.96% |
| USDT0 | 8.00M | 10.00M | 0.74% | 0.67% | 87.90% |
| USDT | 18.40M | 22.60M | 0.71% | 0.75% | 76.90% |
| WETH | 30.00K | 32.00K | 3.89% | 5.11% | 71.31% |
| USDC | 34.00M | 36.40M | 1.79% | 2.42% | 69.06% |
| OP | 650.00K | 5.60M | 33.41% | 17.72% | 21.88% |
| rETH | 150.00 | 750.00 | 1.65% | 2.45% | 13.47% |
| VELO | 20.00M | 80.00M | 14.51% | 45.50% | 7.96% |
| wstETH | 300.00 | 5.00K | 2.38% | 3.28% | 4.36% |
| weETH | 4.00 | 10.00 | 27.02% | 426.38% | 2.54% |
| wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.83% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| cbETH | +1% from 0.10 cbETH to 0.10 cbETH | -63% from 0.27 cbETH to 0.10 cbETH | +170% from 36.79% to 99.41% |
| DAI | +22% from 78.19K DAI to 95.53K DAI | +20% from 89.05K DAI to 107.09K DAI | +2% from 87.81% to 89.21% |
| USDT0 | +0% from 58.94K USDT0 to 59.24K USDT0 | +10% from 61.52K USDT0 to 67.55K USDT0 | -8% from 95.81% to 87.69% |
| USDT | +31% from 102.47K USDT to 134.07K USDT | +31% from 133.10K USDT to 173.99K USDT | +0% from 76.98% to 77.05% |
| WETH | +1% from 1.16K WETH to 1.17K WETH | +0% from 1.63K WETH to 1.64K WETH | +1% from 70.90% to 71.53% |
| USDC | +30% from 470.47K USDC to 612.91K USDC | +2% from 867.69K USDC to 882.88K USDC | +28% from 54.22% to 69.42% |
| OP | +5% from 199.67K OP to 209.49K OP | +2% from 974.37K OP to 998.25K OP | +2% from 20.49% to 20.99% |
| rETH | +0% from 2.47 rETH to 2.47 rETH | +4% from 18.24 rETH to 18.91 rETH | -4% from 13.52% to 13.05% |
| VELO | -77% from 7.36M VELO to 1.70M VELO | -1% from 36.36M VELO to 35.97M VELO | -77% from 20.26% to 4.72% |
| wstETH | -11% from 7.19 wstETH to 6.42 wstETH | +9% from 152.51 wstETH to 166.44 wstETH | -18% from 4.72% to 3.86% |
| weETH | 0% from 1.08 weETH to 1.08 weETH | -0% from 42.74 weETH to 42.64 weETH | +0% from 2.53% to 2.54% |
| wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | +0% from 15.14 wrsETH to 15.14 wrsETH | -0% from 1.83% to 1.83% |
Notable Trends
- USDC borrows +30% (470.47K → 612.91K USDC)
- VELO borrows -77% (7.36M → 1.70M VELO)
- USDT supply +31% (133.10K → 173.99K USDT)
Liquidations
- Total liquidations: 4
- Total Collateral Seized (USD): $2,216.71
- Total Debt Repaid (USD): $2,015.19
- Total Liquidation Bonus (USD): $201.52
- Total Liquidator Bonus (USD): $141.06
- Total Protocol Bonus (USD): $60.46
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| OP | 7,884.152200 | $2,189.24 | $1,990.22 | $199.02 | $139.32 | $59.71 | 3 |
| WETH | 0.009601 | $27.47 | $24.98 | $2.50 | $1.75 | $0.75 | 1 |
Moonbeam
| Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|
| GLMR | 0.10 | 9324.73M% | 80.23% |
| xcDOT | 0.10 | 19.54M% | 48.33% |
| FRAX | 0.10 | 194.00K% | 46.64% |
| xcUSDC | 0.10 | 17.10M% | 32.30% |
| xcUSDT | 0.10 | 17.02M% | 21.09% |
| USDC.wh | 0.10 | 12.89M% | 13.58% |
| ETH.wh | 0.10 | 863.91% | 3.26% |
| BTC.wh | 0.10 | 1.00% | 0.10% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| GLMR | +3% from 9.20M GLMR to 9.44M GLMR | +5% from 11.39M GLMR to 11.94M GLMR | -2% from 80.72% to 79.12% |
| xcDOT | +0% from 19.54K xcDOT to 19.55K xcDOT | -0% from 1.10M xcDOT to 1.10M xcDOT | +0% from 48.32% to 48.35% |
| FRAX | -0% from 194.27 FRAX to 193.59 FRAX | +0% from 38.71K FRAX to 38.71K FRAX | -0% from 46.64% to 46.63% |
| xcUSDC | -0% from 17.10K xcUSDC to 17.08K xcUSDC | +0% from 52.85K xcUSDC to 53.09K xcUSDC | -1% from 32.37% to 32.17% |
| xcUSDT | +0% from 17.02K xcUSDT to 17.04K xcUSDT | +0% from 80.72K xcUSDT to 80.74K xcUSDT | +0% from 21.08% to 21.10% |
| USDC.wh | -0% from 12.93K USDC.wh to 12.89K USDC.wh | +0% from 94.89K USDC.wh to 94.90K USDC.wh | -0% from 13.63% to 13.58% |
| ETH.wh | +0% from 0.86 ETH.wh to 0.86 ETH.wh | -1% from 26.61 ETH.wh to 26.46 ETH.wh | +1% from 3.25% to 3.27% |
| BTC.wh | 0% from 0.00 BTC.wh to 0.00 BTC.wh | -0% from 1.06 BTC.wh to 1.06 BTC.wh | -4% from 0.10% to 0.09% |
Liquidations
- Total liquidations: 19
- Total Collateral Seized (USD): $192.85
- Total Debt Repaid (USD): $175.32
- Total Liquidation Bonus (USD): $17.53
- Total Liquidator Bonus (USD): $12.27
- Total Protocol Bonus (USD): $5.26
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| GLMR | 7,807.432124 | $154.39 | $140.35 | $14.04 | $9.82 | $4.21 | 18 |
| xcUSDC | 38.467400 | $38.46 | $34.97 | $3.50 | $2.45 | $1.05 | 1 |
Moonriver
Following the full deprecation of Moonriver markets where collateral factors were reduced to zero, all remaining debt positions were liquidated
Liquidations
- Total liquidations: 175
- Total Collateral Seized (USD): $1,676.39
- Total Debt Repaid (USD): $1,523.99
- Total Liquidation Bonus (USD): $152.40
- Total Liquidator Bonus (USD): $106.68
- Total Protocol Bonus (USD): $45.72
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| MOVR | 506.580831 | $1,171.46 | $1,064.97 | $106.50 | $74.55 | $31.95 | 119 |
| xcKSM | 51.011453 | $340.38 | $309.43 | $30.94 | $21.66 | $9.28 | 37 |
| FRAX | 165.753500 | $164.56 | $149.60 | $14.96 | $10.47 | $4.49 | 19 |